Workshop on Regulatory Framework for New-age NBFCs
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Open in new tab KYC/AML risk categorisation of customers
Key Points as per the RBI’s Directions on Risk Management under the KYC and PML Regime
-Anita Baid | Vice President | anita@vinodkothari.com
In line with the Reserve Bank of India’s (RBI) directions on risk management under the Know Your Customer (KYC) norms and Anti-Money Laundering (AML) standards, Non-Banking Financial Companies (NBFCs) are required to categorize their customers into low, medium, and high-risk categories. This risk categorization plays a crucial role in determining the level of due diligence to be undertaken by the NBFC while establishing and maintaining relationships with customers. Here are some key points to consider regarding the risk categorization process for legal entities (corporate borrowers, LLPs, trust, etc.) as well for individual borrowers:
Read more →NBFC- Enterprise Risk Assessment
-Subhojit Shome, Assistant Manager | finserv@vinodkothari.com
| Our Youtube video on the topic can be accessed here – https://www.youtube.com/watch?v=7EFeIdb-Wkc |
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Risk-based Internal Audit for NBFCs – Applicability & Implementation
– Subhojit Shome, Assistant Manager | subhojit@vinodkothari.com
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Read our other resources on RBIA here:
Workshop on Co-Lending and Loan Sourcing Arrangements
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Read our articles on the subject: https://vinodkothari.com/?s=co-lending
Consultation paper on the proposed IFSCA (Payment Services) Regulations, 20XX: An Analysis
By Anirudh Grover, Executive, finserv@vinodkothari.com
The International Financial Services Centre Authority in an attempt to restructure the regulatory overview of the Payment Services segment in GIFT IFSC has issued a Consultation Paper dated June 13, 2023 (‘CP’), along with the draft regulations that will be applicable to the payment services market in GIFT IFSC. The aim of this write-up is to critically analyze the same with comparisons with the current RBI framework and similar guidelines practiced by regulators globally.
Read more →SEBI’s standard approach, standardising valuation for AIFs
Dayita Kanodia | Executive, finserv@vinodkothari.com
So far, valuation of securities in terms of an Alternative Investment Fund (‘AIF’) was carried out in accordance with Regulation 23 of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 (‘AIF Regulations’).
Regulation 23 provided AIFs with flexibility in adoption of valuation techniques or methodology for valuation of investment portfolios and the AIF managers were required to merely provide a description of the valuation procedure and of the methodology for valuing assets.. Also, the modalities relating to valuation of investment portfolio of the AIFs were not disclosed in the PPMs at the time of submission to SEBI and also were not reported to SEBI subsequently.
On January 06, 2023, SEBI issued a consultation paper on ‘Standardised approach to valuation of investment portfolio of Alternative Investment Funds’ (‘Consultation Paper on Valuation by AIFs’) which discussed the need for a standardised approach to valuation methodology along with other issues. SEBI had also conducted a survey of 150 managers of different categories of AIFs to understand, inter alia, the present valuation practices being followed.
Subsequently, vide an amendment dated June 21, 2023 SEBI has provided for a standardised approach with respect to the valuation of investment portfolio of AIFs. This standardised approach not only provides for the manner of valuation of AIF investments but also states the responsibility of the manager of an AIF with regard to this valuation in line with the Consultation Paper on Valuation by AIFs.
This article discusses the recent amendment in detail, including the provisions which have been put in place in the event of any material change in the methodology and approach for valuation of investments of schemes of AIFs.
Read more →Rise, Fall & Subsequent Legitimisation of Default Loss Guarantees
Anita Baid & Subhojit Shome | finserv@vinodkothari.com
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Inter-operable regulatory sandbox: A playground for fintechs ?
– Dayita Kanodia, Executive | finserv@vinodkothari.com
A regulatory sandbox allows live testing of innovative products/services under regulatory supervision and with regulatory relaxations. This in turn allows regulators to design evidence-based and innovation-friendly regulations.
An Inter-Operable Regulatory Sandbox or IoRS as defined by both RBI and SEBI is therefore a mechanism to facilitate testing of innovative hybrid financial products / services falling within the regulatory ambit of more than one financial sector regulator.
Read more →YouTube live: RBI Guidelines on Default Loss Guarantee
Anita Baid in conversation with Vinod Kothari
Live on YouTube – 20th June, 2023 | 5:00 P.M. – https://www.youtube.com/@vinodkotharicompany3966/videos
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